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Accrual for subcontract work not yet invoiced

MarieNoelleMarieNoelle Trusted RegularHampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,431
I wonder if someone can advise on this:
Limited co has a year end of 31st January 14. Their last invoice for customer X was raised on 15th January 14. They used a subcontractor to complete the work for the customer; however the subcontractor didn't raise his invoice until the end of March 2014 (and it was paid end of March). The subcontractor's invoice is clearly identified as a job for customer X.
Can the purchase invoice be accrued at 31st January 14?

I think it can but would be grateful for confirmation.


  • Devilish BirdDevilish Bird Just Joined Registered Posts: 5
    Yes as the relevant work was carried out in January so an accrual can be made when the cost is also identifiable. I am very surprised no one has replied to this!!
  • MarieNoelleMarieNoelle Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,431
    Thank you! It's always good to have someone else's opinion!
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